Nasdaq Sinks More than 2% as Investors Raise Questions About AI Debt
- On Friday, the Nasdaq Composite fell roughly 2.5%, bringing weekly losses to almost 5% and putting the tech-heavy index on track for its worst week since June.
- Semiconductor stocks, the "picks and shovels" of the AI boom, dropped 3.9% on Friday, falling for the eighth consecutive day amid rising cost concerns.
- CoreWeave shares dropped 14% on Friday after researcher Gil Luria of D.A. Davidson called them "the subprime tranche of the AI trade," with the stock down more than 60% since its March 2025 IPO.
- South Korea's Kospi index tumbled 14.5% this week, its worst performance since 2008, as investors questioned whether cheaper chips from China could erode dominance of Samsung Electronics and Hynix.
- Wall Street's fear gauge, the VIX, surged 30% on Friday to above 20 points. Thomas Martin of Globalt Investments observed, "The market sells first, asks questions later," explaining the volatility.
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13 Articles
Nasdaq Plunges To One-Month Low Amid Renewed Tech Sell-Off
After recovering from an early slump to end Thursday's session mostly higher, stocks showed a significant move back to the downside during trading on Friday. Technology stocks led the way lower, dragging the tech-heavy Nasdaq down to its lowest closing level in a month.
Nasdaq sinks more than 2% as investors raise questions about AI debt
By John Towfighi, CNN New York (CNN) — Tech stocks are having a tumultuous week as concerns, including higher interest rates and mounting AI debt, continue to weigh on investor sentiment.The Nasdaq Composite fell roughly 2.5% on Friday, bringing its weekly losses to almost 5% and putting the tech-heavy index on track for its worst
Tech off in AI and chips is a drag. CoreWeave plunges 11.91% with $51 billion in debt. AMD loses 5.95% and 6.85%
Wall Street indices closed this Friday (16) in sharp fall, with emphasis on Nasdaq's fall on the mat of technology companies focused on artificial intelligence. Check out the closing of the indices: During the afternoon, the VIX (CBOE Volatility Index), indicator that measures the risk aversion on Wall Street, also [...]
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